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A business consultancy, based in London, England, John Sacks' JSA Consultancy Services provides expert, in-depth, information advice and guidance as to how to exploit successfully the office furniture and interiors markets in Europe, North America, Australasia and Japan.

HNI announces Q2 results with profit rise

Wednesday 18 July 2012

HNI Corp. Have reported a 2nd quarter profit of $7 million, up from $4.7 million in the comparable quarter last year.
Adjusted earnings were $0.17 per share, compared to $0.11 per share in the same period last year.
Sales for the second quarter increased 11 percent to $480.4 million from $432.8 million last year. Analysts had expected revenues of $472.43 million for the quarter.
Gross margin was 34.4 percent, up 0.5 percentage points from 33.9 percent last year.
Selling and administrative expenses totaled $151.7 million, up 11.0 percent from $136.7 million, due to volume related expenses, investments in growth initiatives, higher incentive-based compensation and impact of the acquisition of Sagus.
Looking ahead to the third quarter, adjusted earnings are anticipated in the range of $0.65 to $0.70 per share. Analysts expect the company to earn $0.65 per share for the third quarter.
For the full year 2012, the company narrowed its earnings guidance to a range of $1.35 to $1.45 per share, down from previous range of $1.35 to $1.50 per share. Analysts expect earnings of $1.34 per share for 2012.

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